Fortius Capital Partners Proposes $49M Redevelopment of Old Kannapolis Intimidators Stadium Site
May 20, 2021
A developer has finally been chosen for the former Kannapolis Intimidators stadium site in Rowan County.
On Monday, Kannapolis City Council will vote on a proposal by Concord-based developer Fortius Capital Partners for the site. That proposal is expected to be approved. Should it pass, Fortius would purchase the 55-acre site for $3 million from the city and develop Lakeshore Corporate Park there.
Lakeshore Corporate Park calls for the development of three industrial buildings totaling between 600,000 and 660,000 square feet at the site. Each building will be between about 100,000 and 300,000 square feet. The total investment for the project is estimated at about $49 million, and full buildout is expected to take three to five years.
The site is located on Lane Street near the Exit 63 interchange of Interstate 85. Fortius hopes to attract manufacturing, assembly and distribution users to Lakeshore Corporate Park.
Richardson Properties is Fortius’ capital partner on the project and Windsor Commercial is the general contractor. Fortius is currently working on the expansion of Meadows Corporate Park in Concord and has focused on developing industrial product locally.
“Fortius Capital Partners is proud to be a part of the redevelopment of the former Intimidators Stadium into a first-class industrial park,” said Harris Morrison, managing partner of Fortius. “We applaud the city leaders for their bold and transformative vision — not only for this site, but also for downtown — and are thrilled to be a part of that vision.”
The city moved to sell the property after the Intimidators rebranded as the Cannon Ballers and moved to the new Atrium Health Ballpark downtown. Kannapolis leaders put out a request for proposals in September seeking a partner to help revive the site.
“We look forward to working with Fortius and watching this property develop into a corporate campus with many jobs for our city residents and region,” Kannapolis Mayor Darrell Hinnant said. “The protected watershed and most of the tree canopy will be preserved, which allows this to remain a beautiful asset of our city while also becoming home to a number of new companies.”
